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Tuesday, September 13, 2011

Market Thought... semis

Last week I highlighted the semis, with respect to market fundies, and we will soon see that get put to the test.

It is pushing against its channel range, but more importantly it will be testing the negative trend via the 50SMA. If the semis start to change their tone, the big-boys will as well.

There is still a shit load of uncertainty regarding Europe, but I think we start seeing my EU anticipated action by early next month.

The market is straddled with resistance areas here, and as we get to 1200 its that much tougher.

But as the SP500 gets closer to 1200, and the bullishness of the SOXX begins to shine, we will have a new low-end to this market. Then, as soon as we get an amended EFSF and bank consolidation (which may go hand-in-hand with a Greek re-structuring), I think we re-gain a bullish trend.

Updated 7:27pm 09/13/2011 - And so it begins. If Cramer is thinking it, so are the big-boys.

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